Peter Braus, Managing Principal, along with Managing Directors Peter Levitan, Garry Steinberg and Associate, JP Sutro, are the Lee NYC team representing the Williamsburg property.
“We’re very excited to be involved with such a significant project in the neighborhood,”
Williamsburg, Brooklyn and its surrounding area is now known internationally as the undisputed epicenter of cool in New York City. It’s home to the highest concentration of young artists, filmmakers, writers, designers and musicians in New York and is fast becoming one of the most desirable retailing locations for tenants looking to establish a presence among opinion-leading New Yorkers. The neighborhood is brimming with specialty retailers, restaurants and nightlife, galleries and performance spaces, and has developed a tremendous amount of buzz as a place to find authentic creativity and innovation in New York City.
For businesses, the 10-block radius around the Bedford Avenue L train station is the most coveted place to be. Fashion retailers, in particular, place a high value on having a presence in an area like Williamsburg as it augments a brand’s “cool factor”. The transformation of the neighborhood from an industrial and working-class residential area of Brooklyn to a center for nightlife and avant-garde fashion has been driven by the demographic drawn to the area – creative types in their 20’s and 30’s. The neighborhood is already home to retailers like Paul Smith and Fred Perry and will get a new 7-screen first-run movie theater in the next few months. The addition of the new ultra-cool Wythe Hotel is also a testament to the hip tourist destination the neighborhood has become.
Just one stop away from Manhattan on the L, J, M and Z trains, the neighborhood is a natural progression from the scenes of the East Village and the Lower East Side, and has experienced an explosion of culture and population over the past 15 years.
“As a result of a massive upzoning of the area in 2005, Williamsburg has experienced a tremendous amount of luxury residential and commercial development with thousands more units planned to come on line over the next few years. It’s definitely become a 24/7 neighborhood. The energy is tremendous and this site is right in the middle of it all.” said Braus.
About Lee & Associates NYC:
Celebrating more than 33 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with over 45 locations across the nation including Arizona, California, Florida, Georgia, Idaho, Indiana, Illinois, Kansas, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas and Wisconsin. Lee & Associates NYC, a member of the Lee & Associates group of companies, provides office, retail, multifamily/